(a) If the limited liability company does not take the proposed action within 60 days after the date set for demanding payment and depositing membership interest certificates, the limited liability company shall return the deposited certificates and release the transfer restrictions imposed on uncertificated membership interests.
(b) If, after returning deposited certificates and releasing transfer restrictions, the limited liability company takes the proposed action, it must send a new dissenters' notice under Code Section 14-11-1005 and repeat the payment demand procedure.
Section: Previous 14-11-1001 14-11-1002 14-11-1003 14-11-1004 14-11-1005 14-11-1006 14-11-1007 14-11-1008 14-11-1009 14-11-1010 14-11-1011 14-11-1012 14-11-1013 NextLast modified: October 14, 2016